Can 2050 witness a Developed India?

Posted in Group Discussion (GD) Topics with Answers, Total Reads: 1077

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5 People are having a discussion on this topic ( Bhavin, Sahiba, Nandita, Gautam and Divya )

Category: Economics, Politics

Group Discussion starts

Bhavin : Hello all, today we have gathered here to discuss the topic, ‘Can 2050 witness a developed India?’ Our former president, Dr. A.P. J. Abdul Kalam always believed that India would become a super power by 2020. Though we realize that it is highly improbable now, let us discuss whether it would be a reality by 2050.

Sahiba : It is highly likely that India would have become a mature economy by 2050. As all developed countries have a stagnant economy, Indian economy will also have started to become stagnant showing signs of a ‘developed’ country.

Nandita : Yes, India is the leading target for all IT services industries. The services industry is expected to show an exponential growth in the coming ten years.

Gautam : The services industry has already seen a big boom in the last ten years. But the manufacturing segment has failed to see a similar growth. Today, the services contributes more than 50% towards the total GDP. We have to improve our manufacturing industry if we have to become a developed industry.

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Nandita : Well, Narendra Modi’s ‘Make in India’ initiative has been launched with the same objective of improving our manufacturing industry.

Divya : I don’t see the ‘Make in India’ campaign making an impact yet. Basically, we cannot call a country ‘developed’ just because it is a large economy or it has the highest GDP. The basic amenities of people should also develop for India to become a developed country.

Gautam : Yes, Divya is right. The standard of living and per capita income are also criteria for considering a country as a ‘developed’ country. And I don’t think the standard of living would have largely improved by 2050.

Sahiba : By 2050, I would say that the standard of living would have greatly improved. The middle class would have become dominant and politically, the middle class would have become the target of political parties rather than the poor.

Bhavin : Adding to what Sahiba has said, the middle class would also be more educated than today. Already we can see that smartphones have spread to almost everyone and even prevalent largely among the rural people. Any new technology will also spread with the same rapidity ensuring the development purpose.

Nandita : The penetration of internet would also boost the level of development. The number of internet users is expanding rapidly. It was around 75 Million in 2010 and has grown to around 350 Million today and increasing as we are speaking.

Sahiba : The presence of internet would surely boost the development process. Internet would help improve the livelihood of the people and help in spreading awareness quickly.

Divya : India will not be able to improve until the present system changes. The extent of bureaucracy and corruption in India is very high. If this situation continues, India will not be able to achieve that long awaited ‘developed’ status unless it removes corruption from its roots.

Gautam : Corruption can remove any developmental change to the economy and I cannot see corruption reducing presently in India. When this is the case, one cannot expect corruption to reduce in the future.

Nandita : With a better level of education among the middle class, corruption is bound to reduce. Further, improvement in technology will also reduce corruption, I believe.

Gautam : Not only corruption, Population should also be under control if India wants to be a developed country. Per capita income should be high for a developed country. And with the current levels of population, increasing the per capita income is a distant dream.

Bhavin : High population has always been a matter of concern for India. But it has not been as bad as before. The condition is improving with improving education levels and higher internet penetration. Indian economy is also improving at a fast pace creating new jobs and reducing unemployment.

Sahiba : Yes, India has been growing rapidly in the recent phase, growing not only in the gross production output but on all fronts. India has already become fastest growing developing country set to overtake China and growing at about 7.4% per annum. If India is able to sustain this growth, India can definitely become a developed country

Nandita : Adding to what Sahiba has said, Citigroup had already predicted that India would become the largest economy by 2050. India is believed to grow at around 7.2% for the next ten years and at about 8% from 2020 – 2030. By 2040, it is believed that the growth rate would decrease to about 5% indicating that the economy is starting to become stagnant. By 2050, India would have become a developed country.

Conclusion

It is highly likely that India can become a developed nation by 2050. The services sector has been expanding quickly recently and contributes almost half of today’s GDP and is expected to expand more. There are high hopes that manufacturing sector will also get a boost through the ‘Make in India’ campaign. Technology will have largely improved and internet would have also largely spread. This would in turn cause better levels of education, reduced corruption and increased the per capita income. India is already the fastest growing economy and if India is able to sustain this growth, India will surely become a ‘developed’ nation.

Facts related to the topic

• The services sector contributes more than 50% of our GDP.

• Number of internet users in India has grown from 75 Million in 2010 to about 350 Million today.

• India is set to become the fastest growing nation and is presently growing at about 7.4%.

• India is expected to grow at 8% from 2020 – 2030.

• Citigroup has predicted that India would become the largest economy by 2050.